Phil Riley
Former Chrysalis Radio chief executive
"There's nothing to say that Global can't take Fru [Hazlitt's] strategy and replicate it. It can afford to dispose of one London licence - it is selling the Xfm regional licences and could sell London as well. If GCap and Global come together, I suspect we'll see the sale of Xfm London. I also think, sadly, that it would have to put Heart FM East Midlands on the market. There's a multimillion-pound national sales saving and other plc and operational savings to be had on top from combining the business. But Fru can walk away a hero. She came onboard with a share price of 120p and is leaving with a price of 225p"
Jonathan Barrowman
Head of radio, Initiative
"Global must be able to grow revenue. Currently, only 10% of GCap listeners are going online. Given that radio inhabits a third of someone's media day, it seems reasonable to migrate more and more people to online platforms and grow revenue. Increased ad minuteage on Capital means lower cost per thousand. The station's heritage premium doesn't stack up in today's market, but it will potentially increase volumes"
Paul Bates
Analyst, Charles Stanley
"Charles Allen is a master of taking costs out - he's already taken £15m out of Chrysalis - and there's a lot more to come out of a bigger group. One hopes that radio is not a broken model and this is a business that should be growing. Emap Radio sold for £422m, while Global is paying £412m (including debt). Emap is making £27m and GCap should in financial year 2009 make £27m and more in 2010 - and Emap didn't have that much uplift"
Former Chrysalis Radio chief executive
"There's nothing to say that Global can't take Fru [Hazlitt's] strategy and replicate it. It can afford to dispose of one London licence - it is selling the Xfm regional licences and could sell London as well. If GCap and Global come together, I suspect we'll see the sale of Xfm London. I also think, sadly, that it would have to put Heart FM East Midlands on the market. There's a multimillion-pound national sales saving and other plc and operational savings to be had on top from combining the business. But Fru can walk away a hero. She came onboard with a share price of 120p and is leaving with a price of 225p"
Jonathan Barrowman
Head of radio, Initiative
"Global must be able to grow revenue. Currently, only 10% of GCap listeners are going online. Given that radio inhabits a third of someone's media day, it seems reasonable to migrate more and more people to online platforms and grow revenue. Increased ad minuteage on Capital means lower cost per thousand. The station's heritage premium doesn't stack up in today's market, but it will potentially increase volumes"
Paul Bates
Analyst, Charles Stanley
"Charles Allen is a master of taking costs out - he's already taken £15m out of Chrysalis - and there's a lot more to come out of a bigger group. One hopes that radio is not a broken model and this is a business that should be growing. Emap Radio sold for £422m, while Global is paying £412m (including debt). Emap is making £27m and GCap should in financial year 2009 make £27m and more in 2010 - and Emap didn't have that much uplift"
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